Markets

CBOT soybeans drop on improving US, Brazil weather

Published Updated

Forecasts for rain in Brazil that will help foster crops through early stages of development also pressured the market.

Soymeal futures fell, following weakness in the cash market amid ample supplies.

Soyoil futures closed in positive territory as technical buyers stepped into the market when the benchmark December contract fell below its 20-day moving average during the session.

 

Copyright Reuters, 2017